One-size-fits-all wealth management does not "fit" in Asia-Pacific

Hong Kong, Singapore, September 25, 2013 - Almost
half (45.4 percent) of the world's high net worth wealth growth
has come from Asia-Pacific over the past five years (2007-2012),
a trend that is expected to continue, according to the Asia-Pacific
Wealth Report 2013 (APWR), released today by Capgemini and
RBC Wealth Management. This distinction provides wealth management
firms with opportunities for growth, but requires tailored
and scalable offerings to meet the diverse needs of high net
worth individuals (HNWIs) across the region.

"With consistent wealth growth across Asia-Pacific
markets, the region is poised to have the largest high net
worth population by as early as 2014," said M. George
Lewis, Group Head, RBC Wealth Management & RBC Insurance.
"This growth provides both opportunities and challenges
for firms, who will need to cater their offerings to meet
the diverse needs of clients in the region to remain competitive
in a rapidly-evolving and increasingly complex industry."

Key differences between Asia-Pacific HNWIs and HNWIs in
other regions
Results from the inaugural Global HNW Insights Survey1
incorporated into this year's APWR revealed that while Asia-Pacific
HNWIs share some traits with HNWIs in the rest of the world2,
they also hold a number of unique characteristics pertaining
to the management of their wealth.

Higher trust and confidence in firms and wealth managers.
Over three-quarters have high levels of trust in wealth
management firms (78.8 percent) and wealth managers (77.9
percent) compared to two-thirds (66.8 percent and 65.9 percent)
of HNWIs in the rest of the world. Japanese HNWIs, by contrast,
had low levels of trust, with only about 30 percent having
confidence in various segments of the industry.

More complex wealth management needs. They perceive
their wealth management needs to be complex, encompassing
business, family or philanthropy, with 41.1 percent holding
this view, compared to 21.2 percent in the rest of the world.
With regards to advice on family wealth, 42.3 percent of
Asia-Pacific HNWIs have this need while 23.3 percent require
personal wealth advice.

Preference to work with multiple experts at one firm.
They prefer to work with multiple experts (40.1 percent)
at one firm, in contrast with those in other regions who
prefer one point of contact (40.4 percent versus 21.7 percent
who prefer multiple experts).

Preference for digital versus direct contact. Nearly
40 (38.2) percent rated digital as more important than direct
wealth manager contact compared to 21.5 percent of HNWIs
in the rest of the world.

Willingness to pay for customized services. Asia-Pacific
HNWIs say they are willing to pay more for services that
go beyond standard wealth offerings (42.3 percent compared
to 25.5 percent in the rest of the world).

Preferences and behaviors differ by country
While there were different perspectives and behaviors expressed
by Asia-Pacific HNWIs compared to those in the rest of the
world, the region cannot be viewed as uniform, with varying
views held by HNWIs across individual Asian markets as well.
These differences are most clear when comparing HNWIs in Japan
with those in China and India.

While HNWIs in Japan expressed no strong preferences in terms
of their wealth management servicing needs, HNWIs in China
and India expressed clear opinions, with both countries having
the highest proportion of HNWIs who view their needs as complex
and desire input from a number of experts.

"Firms that try to develop a 'one-size-fits-all'
servicing model to address the general needs of Asia-Pacific
HNWIs will fall short," said Jean Lassignardie, Chief
Sales and Marketing Officer, Capgemini Global Financial Services.
"The firms with the ability to combine deep local
HNWI knowledge with a tailored and scalable value proposition,
upgraded business models and seamless client experiences will
be best positioned to capture growth."

What do wealth management firms need to be successful?

To best position themselves in the Asia-Pacific HNWI market,
the report highlights several specific areas for firms to
focus on ranging from ensuring an understanding of individual
country HNWI preferences, investing in digital communications,
and building capabilities in specific wealth management services
to meet the needs of business owners such as estate and succession planning.

The Asia-Pacific Wealth Report 2013
Expanding on the findings of the World Wealth Report, the
Asia-Pacific Wealth Report from Capgemini and RBC Wealth Management
provides population and wealth data for ten core markets in
Asia-Pacific. Spanning Australia, China, Hong Kong, India,
Indonesia, Thailand, Japan, Singapore, South Korea and Taiwan,
the report reviews economic and market performance drivers,
as well as High Net Worth Individual (HNWI) investing behaviors
in the Asia-Pacific region. This year's report also includes
a section that provides an in-depth focus on HNWI perspectives
and behavior based on a global survey of over 4,400 HNWIs,
including almost 1,400 respondents from Asia-Pacific. Through
the survey findings we explore HNWI confidence levels, asset
allocation decisions, as well as their wealth management advice
and service preferences. Download the report at .

About Capgemini
With more than 128,000 people in 44 countries, Capgemini is
one of the world's foremost providers of consulting, technology
and outsourcing services. The Group reported 2012 global revenues
of EUR 10.3 billion. Together with its clients, Capgemini
creates and delivers business and technology solutions that
fit their needs and drive the results they want. A deeply
multicultural organization, Capgemini has developed its own
way of working, the Collaborative Business Experience,
and draws on Rightshore®, its worldwide delivery model.
Learn more about
us at www.capgemini.com.

Rightshore® is a trademark belonging
to Capgemini

About Capgemini's Financial Services
Global Business Unit
Capgemini's Global Financial Services Business Unit brings
deep industry experience, innovative service offerings and
next generation global delivery to serve the financial services
industry. With a network of 24,000 professionals serving over
900 clients worldwide Capgemini collaborates with leading
banks, insurers and capital market companies to deliver business
and IT solutions and thought leadership which create tangible
value. More information is available at: www.capgemini.com/financialservices

About RBC Wealth ManagementRBC
Wealth Management is one of the world's top 10 largest
wealth managers*. RBC Wealth Management directly serves affluent,
high-net-worth and ultra-high net worth clients in Canada,
the United States, Latin America, Europe, the Middle East,
Africa, and Asia with a full suite of banking, investment,
trust and other wealth management solutions. The business
also provides asset management products and services directly
and through RBC and third party distributors to institutional
and individual clients, through its RBC Global Asset Management
business (which includes BlueBay Asset Management). RBC Wealth
Management has more than C$615 billion of assets under administration,
more than C$373 billion of assets under management and over
4,400 financial consultants, advisors, private bankers, and
trust officers. For more information, please visit www.rbcwealthmanagement.com.

About RBCRoyal
Bank of Canada (RY on TSX and NYSE) and its subsidiaries
operate under the master brand name RBC. We are Canada's largest
bank as measured by assets and market capitalization, and
are among the largest banks in the world, based on market
capitalization. We are one of North America's leading diversified
financial services companies, and provide personal and commercial
banking, wealth management services, insurance, investor services
and wholesale banking on a global basis. We employ approximately
80,000 full- and part-time employees who serve more than 15
million personal, business, public sector and institutional
clients through offices in Canada, the U.S. and 44 other countries.
For more information, please visit rbc.com.

*Scorpio Partnership Global Private Banking KPI Benchmark
2013. In the United States, securities are offered through
RBC Wealth Management, a division of RBC Capital Markets,
LLC, a wholly owned subsidiary of Royal Bank of Canada. Member
NYSE/FINRA/SIPC.

3As Japanese HNWIs
have markedly unique investing behaviors and preferences and
the country accounts for more than 50 percent of the region's
HNWI population, we frequently isolate and make reference
to Asia-Pacific excluding Japan when performing regional analysis.
However, complete findings on Japan as a country are covered
extensively in the Asia Pacific Wealth Report.